ALC announces long-term lease agreement with Air Arabia

Darren Wood
By Darren Wood April 15, 2019 16:29

ALC announces long-term lease agreement with Air Arabia

Air Lease Corporation (ALC) has delivered one new Airbus A321-200neo LR aircraft on long-term lease to Air Arabia.

The aircraft, which features CFM International LEAP-1A engines, is the first of six A321-200neo LRs scheduled to deliver to Air Arabia through 2020 from ALC’s order book with Airbus.

This A321-200neo LR is also ALC’s first Airbus long-range A321neo to deliver to the lessor.

“This new A321-200neo LR aircraft delivery strengthens our long-standing relationship with Air Arabia as the airline continues to excel as one of the premier airlines in the Middle East with the most technologically advanced, fuel-efficient aircraft,” says Steven F. Udvar-Házy, Executive Chairman of Air Lease Corporation. “This delivery is particularly significant as this is ALC’s first A321-200neo LR aircraft. A key addition to Air Arabia’s fleet, the A321-200neo LR offers dynamic long-range optimisation and increased capacity as the airline expands into new destinations.”

“The addition of the A321neo LR aircraft to Air Arabia’s growing fleet allows us to expand our service to farther and newer destinations while remaining loyal to our low-cost business model. We look forward to receiving the remaining aircraft in 2019 as we continue to offer our customers an excellent product with more destinations to discover,” added Adel Al Ali, Group Chief Executive Officer of Air Arabia.

Darren Wood
By Darren Wood April 15, 2019 16:29